Algert Global LLC Has $5.66 Million Stock Position in Atkore Inc. $ATKR

Key Points

• Algert Global LLC reduced its holdings in Atkore Inc. by 44.8%, selling 76,757 shares and now owning approximately 0.28% of the company worth $5.66 million.
• Several other investors, including Harbor Capital Advisors Inc. and GAMMA Investing LLC, significantly increased their stakes in Atkore during the first quarter, with increases of 97.0% and 1,514.7% respectively.
• Atkore recently declared a quarterly dividend of $0.33 per share, which represents an annualized yield of 2.3% and a payout ratio of 42.31%.

Algert Global LLC reduced its position in shares of Atkore Inc. (NYSE:ATKR - Free Report) by 44.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,404 shares of the company's stock after selling 76,757 shares during the quarter. Algert Global LLC owned about 0.28% of Atkore worth $5,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van Den Berg Management I Inc. increased its stake in shares of Atkore by 0.4% in the 4th quarter. Van Den Berg Management I Inc. now owns 41,041 shares of the company's stock valued at $3,425,000 after acquiring an additional 158 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Atkore by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,357 shares of the company's stock valued at $1,782,000 after acquiring an additional 171 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Atkore by 3.0% in the 1st quarter. SummerHaven Investment Management LLC now owns 6,039 shares of the company's stock valued at $362,000 after acquiring an additional 177 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Atkore by 97.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526 shares of the company's stock valued at $32,000 after acquiring an additional 259 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its stake in shares of Atkore by 3.9% in the 4th quarter. EP Wealth Advisors LLC now owns 7,364 shares of the company's stock valued at $615,000 after acquiring an additional 276 shares during the last quarter.

Insiders Place Their Bets

In other Atkore news, insider Mark F. Lamps sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the completion of the transaction, the insider owned 31,873 shares of the company's stock, valued at $1,892,300.01. This represents a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.99% of the stock is currently owned by company insiders.

Atkore Stock Up 6.3%

Shares of ATKR traded up $3.5630 on Friday, hitting $60.1030. The company's stock had a trading volume of 680,807 shares, compared to its average volume of 792,811. The company has a quick ratio of 2.08, a current ratio of 3.09 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average price is $68.88 and its 200-day moving average price is $65.85. Atkore Inc. has a fifty-two week low of $49.92 and a fifty-two week high of $105.28. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 19.26 and a beta of 2.10.

Atkore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 19th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. Atkore's payout ratio is currently 42.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ATKR shares. Citigroup reaffirmed a "neutral" rating and issued a $80.00 price target (up from $70.00) on shares of Atkore in a research note on Monday, June 9th. Wall Street Zen raised Atkore from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Roth Capital set a $78.00 price target on Atkore and gave the company a "buy" rating in a research note on Wednesday, May 7th. KeyCorp reaffirmed a "sector weight" rating on shares of Atkore in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada upped their price target on Atkore from $65.00 to $70.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $79.57.

Atkore Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.